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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
HUNGARY
- USDHUF continues to trade sideways between its 100D SMA and 50D SMA; the pair ticked slightly lower this morning after failing to break through its 303 resistance (50D SMA). On the topside, next resistance to watch (after 303) stands at 305; on the downside, first support to watch after 299 (100D SMA) stands at 295.
- GBPHUF failed to break its 50D SMA this week and currently trade slightly below the 420 level ; next resistance to watch on the topside stands at 427.50; on the downside, first important support stands at 411 (100D SMA).
- CZKHUF ticked slightly lower this morning after testing a local high of 14.10; the rise in monetary policy divergence between CNB and NBH has increased demand for CZK in the past two weeks. Next crucial resistance on CZKHUF stands at 14.15, which also represents the pair's all-time high. On the downside, first support to watch stands at 13.92 (50D SMA), followed by 13.83 (100D SMA).
- PLNHUF: momentum on the pair has been very strong, the pair is up 2.7% from its March 30 low and is currently testing its 200D SMA resistance at 79.68; next level to watch on the topside stands at 80.10 (LT downward trending resistance). Supports to watch on the downside stand at 79.40 (50D SMA), followed by 79.14.
- HUFJPY (with chart) has been retracing lower in the past 10 days amid HUF weakness and is currently testing its 35.70 support line, which represents the 23.6% Fibo retracement of the 31.78 – 36.93 range and its 50D SMA. Next level to watch on the downside stands at 35.47, its 100D SMA (and also the LT upward trending support line, red line). On the topside, first resistance stands at 36, followed by 36.50. (Scale *100)
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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